I have a mpg video clip that I would like to extract the audio from-- and save it as a separate .wav file. the clip is from the timeline and an edited portion of a larger source file. I'm sure this is easy, but I don't know how.
Once you've got the .mpg file on the timeline, Make Movie, Write your movie to file on your disk, Advanced render, change Save as type to Wave (Microsoft) (*.wav)